Shelford Road / Adam Road area

[Guest]

CDL will launch its new development along Shelford Road during Q3 2007. 77 units in total consisting of 2 bedders and above. A showflat is currently being built along Shelford Road.

Adam Park Condo is transacting at around $950psf. The Shelford around $1100. Kellett Court, 19 Shelford, Shelford Residences, The Acadia, Hillcrest Acadia are all above $900 psf at present.

I reckon CDL will launch theirs at $1800 to $2000, which means that the current newer condos there (Adam Park Condo, The Shelford) are currently very undervalued.

[arthur]

Originally Posted by Guest

CDL will launch its new development along Shelford Road during Q3 2007. 77 units in total consisting of 2 bedders and above. A showflat is currently being built along Shelford Road.

Adam Park Condo is transacting at around $950psf. The Shelford around $1100. Kellett Court, 19 Shelford, Shelford Residences, The Acadia, Hillcrest Acadia are all above $900 psf at present.

I reckon CDL will launch theirs at $1800 to $2000, which means that the current newer condos there (Adam Park Condo, The Shelford) are currently very undervalued.

after Wilkie Road and Quayside project.

[Guest]

Thanks Arthur. Any idea whether my take on the pricing is reasonable? Am considering picking up a unit at Adam Park Condo/The Shelford before CDL launches their new condo. But the prices at Adam Park Condo/The Shelford is moving northwards every week!

[duckweed]

wow.... $1800 to $2000 seem rather steep.

[Guest]

Watten Estate in Shelford Road is asking for $1297. If they achieve this price, then launch price will be at least $2000 psf.

_________________________________________________
Published June 27, 2007 - BT

Watten Estate Condo up for en bloc sale

WATTEN Estate Condominium at Shelford Road off Dunearn Rd has been put up for collective sale through an expression of interest exercise.

So far, owners with more than 70 per cent of share values, but short of the minimum 80 per cent required, have signed the collective sale agreement, at a price believed to be around $400 million. This works out to $1,297 per square foot of potential gross floor area inclusive of development charges.

The 220,241 sq ft freehold site is zoned for residential use with a 1.4 plot ratio (ratio of maximum potential gross floor area to land area) and a five-storey maximum height. No development charge is payable, according to DTZ Debenham Tie Leung, which is marketing Watten Estate Condo. The site can be redeveloped into a new condo with about 200 units averaging 1,500 sq ft, market watchers reckon.

Currently, Watten Estate Condo has a total of 104 units comprising a block of apartments and four blocks of townhouses. Property tycoon Ng Teng Fong, who controls Far East Organization, is believed to own two units in the development. The expression of interest for Watten Estate Condo closes on July 20.

The property is near Raffles Girls' Primary School, Nanyang Primary School, Hwa Chong Institution and National Junior College. The Botanic Gardens is a short drive away.

Lippo Realty recently paid $1,280 psf per plot ratio for Aura Park at Holland Road, which is also near Botanic Gardens

[duckweed]

personally, i prefer the watten area to the shelford area. sigh, the days of below 1k psf are gone.

[studio3]

Dun understand where you are coming from. Watten Estate Condominium is on Shelford Road. If you are talking about landed, then they are both separate areas, but actually Watten and Shelford landed areas are just next to each other. Watten has more landed homes than Shelford, which only has a handful.

[Guest]

Originally Posted by duckweed

personally, i prefer the watten area to the shelford area. sigh, the days of below 1k psf are gone.

Watten area is a longer walk to the Botanic Gardens MRT (u/c). It is possible to walk from the Shelford Road/Adam Road to the MRT in 5 to 10 mins, but Watten is much further in. Expats renting around that area may prefer a shorter walk to the MRT.

This is why I cannot understand why the condos at the Duchess area are fetching a higher price than those in Shelford Road/Adam Road. It takes more than 30 mins walk to the MRT. But then again, the MRT is not going to be operational until 2009. Maybe the situation will change then.

[Guest]

New Condos along Shelford Road

a. 12 to 16 Shelford Road - CDL - 77 units (launch Q3 2007).
b. 18 Shelford Road - Popular Holdings purchased site this year.
c. 8, 8A and 10 Shelford Road undergoing en-bloc - Knight Frank.

Possible new en bloc site

a. 5, 5A, 5B, 5C, 5D Adam Road - these consists of a row of terrace houses/town house and three apartment blocks known as "Adam Place".

This will be an intereting area.

[duckweed]

Originally Posted by studio3

Dun understand where you are coming from. Watten Estate Condominium is on Shelford Road. If you are talking about landed, then they are both separate areas, but actually Watten and Shelford landed areas are just next to each other. Watten has more landed homes than Shelford, which only has a handful.

sorry, should have been a bit clearer in my earlier posting. i was actually referring to the landed areas. even though the 2 areas are side by side, i find shelford area to be rather congested, unlike watten, which is mostly landed.

agree that shelford's closer to mrt, but i find the traffic at the shelford junction with dunearn road to be rather messy. watten's much more greener and quieter and it's also closer to greenwood.

[Guest]

From ST today.

"
Units in Duchess Residences in Bukit Timah, for instance, have crossed the $2,000 per sq ft (psf) mark - the first time homes in the area have done so in almost a decade.

More than 80 per cent of the project's 120 units have been sold since they were put up for sale last week, with all the smaller three- and four-bedroom units sold, said developer UOL Group.

Singaporeans were the main buyers but 20 per cent of the homes were sold to buyers from Hong Kong, Malaysia and Indonesia, said UOL, adding that many of them were from the finance industry. "

Understand that the last 3 bedroom unit was sold at $2200 psf. The prices around this part of Bt Timah will be pulled up by Duchess Residences.

[Baby]

At prices crossing the $2200 psf in that area means Duchess Residences had exceeded the last peak in 1996 in that area. And not to forget that's the year the government became so uncomfortable, and thus the harsh policy.

With the kind of price Duchess had been sold, a 3 room of 1464 sf easily start from $2.4m-3m, and you can get an almost 2800 sf freehold terrace landed house in that area.

Developer like Salvis who is marketing this property can claim on the media loudly that the Bukit Timah had been under-valued. If Bukit Timah area was below $1000 psf since last Dec 06, a hike of almost 80-100% within half a year is scary. Look at 6th Avenue Residences launched late last year, it was just close to $1000psf only.

With another 5 new launches in that area in the next few months, it will not be surprised that developers launch them at much higher price and probably cross the $3000psf by year end in this kind of sentiment.

Be very careful as the developers are pushing up extremely high prices as they are transferring the risks to the buyers. Do need to understand what kind of buyers that had snapped up those units as it's very easy for speculators to put down just 10% cash ( 5% upfront & 5% in 8 weeks ) in the deferred payment scheme for this property and try to sell off within 12 months before the next 10% payment kicks in again. Developers can claim the buyers were from the enbloc people, but with that kind of pricing even the lastest Farrer Court enbloc residents couldn't afford the 3bedders.

[Lastresorter]

Adam Road has many churches eh?

[Guest]

There's upside yet in S'pore property
Investing in property requires capital and time but the rewards can be substantial
BT 4 Jul 07

By CLEMEN CHIANG

Quote
...

Where are the areas to invest?I highly recommend Sentosa Cove and District 10.

Sentosa Cove offers one of the most exciting propositions - a residential enclave that shares the island with an integrated resort. The wealthiest individuals in the world will be looking to buy your property which will be situated right next to their favourite entertainment spot.

In district 10, the Duchess area is the place where you can invest in your child's future. Within a one-km radius, it offers several premier schools: the Nanyang and Raffles Girls' primary schools, St Margaret's Secondary School, Nanyang Girls' High, Chinese High School, Hwa Chong Institution, National Junior College and Hwa Chong Junior College.

When do we invest in the property market? The answer is: Now! There is no better time to start investing for the future.

[arthur]

as of now, duchess residences is selling very well. dont be surprise that this project will be fully sold by end of this week.

[Guest]

Any idea on the pricing of the above development by CDL? Thanks.

[Guest]

Watten Estate condo up for collective sale
By Erica Tay

WATTEN Estate Condominium along Shelford Road is up for collective sale by tender with a price tag of $480 million.

If this price - it works out to a ratio of $1,550 per sq ft per plot - is achieved, the deal will become the most valuable done in the Watten area.

The freehold Bukit Timah estate is a development of 104 units made up of a block of apartments and four blocks of townhouses.

Watten Estate sits on a large piece of elevated prime land of more than 20,400 sq m. It is in a quiet enclave off busy Dunearn Road and less than 1 km from a handful of top schools.

The estate is also near the upcoming Botanic Gardens MRT Station.

'Assuming a building efficiency of 90 per cent, the site can be redeveloped into a residential development of about 210 units with an average unit size of 1,300 sq ft,' said DTZ Debenham Tie Leung, which is handling the sale.

Mr Shaun Poh, DTZ's director of investment advisory services, said: 'Watten Estate is probably the only large and elevated residential site available for sale in the Shelford Road and Watten Road area.'

The tender closes on July 31.

[Guest]

Hi all, any idea what is the en bloc status of the above two developments? Thanks.

[Guest]

anyone knows whether watten estate condo and serene house went en-bloc?

[Excelsvr]

Originally Posted by duckweed

Personally, I prefer the watten area to the shelford area. sSgh, the days of below 1k psf are gone.

Get a HDB or a condo in the suburbs!